atsx1313

HI!!

I wanted to ask some of you about lease-takeover...

I was looking at the new cars, specifically a leased offers...

I looked at 2014 lexus IS and acura TL for their lease offers(in Los Angeles area) but while their lease offers were low in monthly and down payment but I don't think i have the sufficient credit history(thin) to make that work for dealers...


I do have good income to cover most expenses but I don't want to purchase...

So I heard about the lease take overs but it looked really good..

My question is... do i really takeover/carry on the payment and that is it? or do they run credit check? if my credit history is problem, do i have to make down payment or have high monthly payment?

if this doesn't work out, i guess i need to make purchase for inexpensive vehicle..

here is the info on one of the car that i am interested in...

2014 Lexus IS 250

Actual Miles:
3,504 miles
Total Miles Allowed:
30,006
Miles Remaining:
26,502
Available Miles:
1,152 miles p/month

LEASE DETAILS
Contractual Lease Payment: $350.00 p/month
Advertised Payment: $350.00 p/month
Months Remaining: 23 months
Original Lease Term: 24 months
Lease End Buyout: Contact Seller
Lease End Date: July 2016
Excess Miles Charge: $0.25 per mile

http://www.leasetrader.com/2014_Lexu...0_209518.xhtml

thank you all!

Mr Marco

If you don't have the credit to buy/lease the car to begin with then you shouldn't be looking at the car in the first place. I have had shitty credit in the past myself. You just need to swallow your pride and drive that POS 1999 Subaru wagon around for a couple more years while you work on building your credit back.

In my case it was a Scirocco. Can you imagine how much tail I missed out on? Chicks would run when they saw my car with busted up seats and no front bumper. "Hey baby, you wanna go for a ride in my Scirocco?"

atsx1313

i mean, i do have and paying acura tsx for that matter...
I want to lease it so that I maintain my own car instead letting my parent pay for it...

If i do get leased, I will pay off the TSX for my parents, who cosigned, then I will lease my very own car...

That is why..

WHEEELMAN

iTrader: (14)

Never lease a vehicle, you have nothing to show for it in the end.

That is like leasing a washer and dryer, then returning them after 2 or 3 years....nothing to show for it.



Buy a used vehicle and drive it till the wheels fall off...

I still have my 01 Accord after 11 years of daily driving and putting 100k miles on it. I got back every penny I put into the payments and more.

tlmailman

If your parents are the cosigners, then aren't you the leasee in that loan agreement for the TSX? If that is the case then you are building your credit already. You just can't default on the loan, because they are the cosigners..they are liable for your creditworthiness. You screw up and it reflects on both your credit and your parents.

BlueAc

iTrader: (2)

Apples and oranges.

VanyDotK

iTrader: (6)

I think it depends where you're at in life. If you're making a decent living and you always want the latest car, why not lease one? Does it make the most economic sense? No, but if it's within your means, why not?

For all we know, OP has a good paying job, house, no debt, a well funded 401k/IRA and he just wants to lease a car so he can upgrade every few years because he has it like that. I doubt he does, but I'm just saying

I'm in the same boat as you, I had an 01 Accord and I would have driven that thing to the ground if it didn't get totaled, same with my 08 TL if it didn't get totaled. Hopefully I could actually drive my 13 TL until the wheels fall off this time around!